Thanks for the great advice, everyone!
I put my bid in for the event. I underbid it a little, but I still expect to make a profit, plus I really want to get this as my first event and get practice with it. Here is what I went with (I gave them two options):
$1.50/dog for “1/8th lb all beef frank” with B&C 8:1. I’m paying .27 meat + .29 bread + .10 condiments/paper = .66/dog. $600 gross less $264 COGS = $336. If I pay a friend $40 to work the event with me, I’m still getting right at $300 for the event. Any overage to be billed at $2/dog.
$2.00/dog with “1/4 lb Nathan’s Famous” 4:1. I’m paying .63 meat + .20 bread + .10 = .93/dog. $800 gross less $372 COGS = $428. Less $40 for help, and I’m still near $400. Any overage to be billed at $2.50/dog.
I know this is a gross oversimplification, but if anyone sees any flaws in my logic, please let me know! I am also aware that my bread cost is out of line on the B&C option – that’s a straight 8pk of bread from Sam’s Club off the rack. The lower bread price is the bun that matches the Nathan’s dog (also from Sam’s, ironically). I’ll find a better price for my bread before the event, but these are the numbers I had at hand to work so far.
I also plan to heed everyone’s advice – especially with the turkey fryer idea. Probably won’t use a chafing dish (as I agree with the “slinging” as part of the show), and will either steam the buns if it’s sunny or let ’em go if not. Condiments will be on a separate table.
She seemed very pleased with everything I described to her, and didn’t balk at the price at all… she also mentioned possibilities of future events at the school (sporting events, homecoming, etc). After seeing how this goes, I may need to adjust the price in the future.
You guys have been a great help! Thanks a lot! Any more advice is definitely welcome, too. haha